REVOLVING FUND

EFFECTIVE FISCAL 2023

PREPARED BY:

GENERAL LEDGER AND ADVISORY BRANCH

FISCAL ACCOUNTING OPERATIONS

BUREAU OF THE FISCAL SERVICE

U.S. DEPARTMENT OF THE TREASURY
[Type here]

Version Control

Version Date Author(s) Reviewer(s) Description of Changes

1.0 9/2002 N/A N/A 

2.0 3/29/2020 Kyle Moore Updated with new Branch SOP format and scenario formatting details. Updated USSGL 

Accounts and Transactions 
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 3 of 33 

Background 

The Office of Management and Budget (OMB) defines the term revolving fund as a fund that conducts continuing cycles of businesslike activity, in which the fund charges for the sale of products or services and uses the proceeds to finance its spending, usually 

without requirement for annual appropriations.1 There are three types of revolving funds: Public enterprise funds, intragovernmental 

revolving funds, and trust revolving funds. 

• Public enterprise funds – business-like activity with the public.

• Intragovernmental revolving funds – business-like activity with other Government entities.

• Trust revolving funds – business-like activity primarily with the public but also designated as a trust fund by law.

It is important to remember that revolving funds operate on a reimbursable basis when working capital (undisbursed cash) is available 

and cannot be disbursed into a negative cash position in anticipation of Federal or non-Federal reimbursements due to the 

Antideficiency Act.2 

This scenario portrays the transactions both with other Government entities and with the public. There are four federal funds 

referenced in this document. The agency no-year general fund TAFS represents the Performing Agency whereas the Ordering Agency 

will represent the buying entity of IAA’s with the intragovernmental revolving fund. The scenario also references a clearing account 

and a deposit fund to be used in certain collection activities. 

Section 20.10 of OMB Circular No. A-11 (A-11) addresses the obligational authority and liquidation derived from reimbursable 

authority from Federal resources. The OMB Circular No. A-11 can be found at:

Circulars | The White House

This scenario portrays transactions in a revolving fund. Transactions highlight the following points: 

 Start-up capital appropriated to a revolving fund from the general fund of the Treasury. 

 Budget authority provided through offsetting collections. 

 Cash shortfalls when budget authority remains unobligated. 

 Appropriation transfers from an appropriated agency general fund. 

 Availability of funds as applied to reimbursable agreements between ordering and performing entities. 

1 OMB Circular A-11, Section 20.3, “What special terms must I know?”

2 OMB Circular A-11, Section 20.12, “What do I need to know about reimbursable work?”
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 4 of 33

 Posting of advances without orders. 

 Purchasing and selling inventory held for resale. 

 Adjusting entry to write an unfilled customer order from a federal source down to obligations against the order due to 

an expiring appropriation of the ordering entity.

 At several points in the presentation, it mentions “invoice cannot be submitted for payment at this time...” but this does 

not mean that the scenario recommends being non-compliant with the Prompt Payment Act.

3 If the invoice is required 

to be submitted for payment, refer to OMB Circular A-11, section 145.

The following accounts will be used in this scenario. Refer to the U.S. Government Standard General Ledger for accounts, account 

descriptions, accounting transactions and crosswalks reports ( The U.S. Standard General Ledger (treasury.gov). In addition, each 

transaction in the scenario is coded with transaction numbers identified in Section III of the USSGL. 

Listing of USSGL Accounts Used in This Scenario 

Account Account Description

Budgetary

411900 Other Appropriations Realized

419100 Balance Transferred – Extension of Availability Other Than Reappropriations

420100 Total Actual Resources - Collected

421000 Anticipated Reimbursements

422100 Unfilled Customer Orders Without Advance

422200 Unfilled Customer Orders With Advance

425100 Reimbursements Earned - Receivable

425200 Reimbursements Earned - Collected From Federal/Non-Federal Exception Sources

425400 Reimbursements Earned – Collected From Non-Federal Sources

445000 Unapportioned – Unexpired Authority

449000 Anticipated Resources – Unapportioned Authority

451000 Apportionments

459000 Apportionments - Anticipated Resources - Programs Subject to Apportionment

461000 Allotments - Realized Resources

480100 Undelivered Orders - Obligations, Unpaid

3 31 U.S.C. Section 3901
REVOLVING FUND

EFFECTIVE FISCAL 2023

Page 5 of 33

490100 Delivered Orders - Obligations, Unpaid

490200 Delivered Orders - Obligations, Paid

Proprietary

101000 Fund Balance With Treasury

131000 Accounts Receivable

151600 Operating Materials and Supplies in Development

152100 Inventory Purchased for Resale

175000 Equipment

175900 Accumulated Depreciation on Equipment

211000 Accounts Payable

231000 Liability for Advances and Prepayments

240000 Liability for Non-Fiduciary Deposit Funds and Undeposited Collections

310100 Unexpended Appropriations - Appropriations Received

310200 Unexpended Appropriations - Transfers-In

310700 Unexpended Appropriations - Used - Accrued

310710 Unexpended Appropriations – Used - Disbursed

510000 Revenue From Goods Sold

520000 Revenue From Services Provided

570000 Expended Appropriations – Used - Accrued

570010 Expended Appropriations - Disbursed

610000 Operating Expenses/Program Costs

660000 Applied Overhead

650000 Cost of Goods Sold

671000 Depreciation, Amortization, and Depletion

Memorandum

880100 Offset for Purchases of Assets

880200 Purchases of Property, Plant, and Equipment

880300 Purchases of Inventory and Related Property
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 6 of 33

Illustrative Transactions

1. While an agency’s revolving fund establishment was provided through an authorization act, the agency’s annual appropriations act subsequently provided

an appropriation of $100,000 is provided as initial start-up capital, no specific restrictions are made on the use of the appropriated funds. A warrant for 

$100,000 is issued to the revolving fund.

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

411900 (D) Other Appropriations Realized

445000 (D) Unapportioned Authority

Proprietary Entry

101000 Fund Balance With Treasury

 310100 Unexpended Appropriations - 

Appropriations Received

100,000

100,000

100,000

100,000

A104

2. The revolving fund anticipates $170,000 from spending authority from offsetting collections. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

421000 (R) Anticipated Reimbursements

 449000 (R) Anticipated Resources – 

Unapportioned Authority

Proprietary Entry

None.

170,000

170,000

A702
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 7 of 33

3. Agency submits apportionment and OMB approves ($100,000 general fund appropriation + $170,000 anticipated from spending authority from offsetting 

collections.

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

445000 (D) Unapportioned – Unexpired 

Authority

 451000 (D) Apportionments

449000 (R) Anticipated Resources – 

Unapportioned Authority

 459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to 

Apportionment

Proprietary Entry

None.

100,000

170,000

100,000

170,000

A116

A118

4. The agency head allots the available apportionment and approves automatic allotment of authority. (i.e., direct)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

451000 (D) Apportionments

 461000 (D) Allotments – Realized 

Resources

Proprietary Entry

None.

100,000

100,000

A120
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 8 of 33

5. The revolving fund incurs and pays for general operating expenses. Unrestricted appropriated funds used to cover obligation. (Note: In practice, a cost 

accounting system would apply these expenses to customer billings through a charge for overhead) (i.e., direct)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

461000 (D) Allotments – Realized Resources

 490200 (D) Delivered Orders – Obligations, 

Paid

Proprietary Entry

610000 Operating Expenses/Program Costs

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations – Used - 

Disbursed 

 570010 Expended Appropriations - 

Disbursed

25,000

25,000

25,000

25,000

25,000

25,000

B107

B234

6. The revolving fund recorded a requisition to purchase equipment. Unrestricted appropriated funds used.

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

461000 (D) Allotments – Realized Resources

 470000 (D) Commitments – Programs 

Subject to Apportionment

Proprietary Entry

None

70,000

70,000 B302
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 9 of 33

7. To record the revolving fund receiving a purchase order for the equipment. (i.e., direct)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

470000 (D) Commitments - Programs Subject 

to Apportionment

 480100 (D) Undelivered Orders - 

Obligations, Unpaid

Proprietary Entry

None

70,000

70,000 B306

8. To record the equipment and an invoice that has been received by the revolving fund. The equipment is determined to have a 4-year useful life and no 

salvage value. (i.e., direct)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

480100 (D) Undelivered Orders - Obligations, 

Unpaid

 490100 (D) Delivered Orders - 

Obligations, Unpaid

Proprietary Entry

175000 Equipment

 211000 Accounts Payable

310700 Unexpended Appropriations – Used - 

Accrued

 570000 Expended Appropriations – Used - 

Accrued

Memorandum Entry

880200 Purchases of Property, Plant, and 

Equipment

 880100 Offset for Purchases of Assets

70,000

70,000

70,000

70,000

70,000

70,000

70,000

70,000

B402

B134

G120
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 10 of 33

9. The revolving fund paid the invoice for equipment in full. Unrestricted appropriated funds were used.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

Not Applicable

Budgetary Entry

490100 (D) Delivered Orders - Obligations, 

Unpaid 

 490200 (D) Delivered Orders - Obligations, 

Paid

Proprietary Entry

211000 Accounts Payable

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations – Used - 

Disbursed 

570000Expended Appropriations – Used 

Accrued

 310700 Unexpended Appropriations – 

Used - Accrued

 570010 Expended Appropriations - 

Disbursed 

70,000

70,000

70,000

70,000

70,000

70,000

70,000

70,000

B110

B235

10. The revolving fund accepts order #1. A $74,000 order for equipment from another federal entity’s annual TAFS without an advance. Allotment of 

anticipated resources realized. (reimbursable)

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

461000 Allotments – Realized Resources

 480100 Undelivered Orders – 

Obligations, Unpaid

74,000

74,000

B306

Budgetary Entry

422100 (R) Unfilled Customer Orders w/o 

Advance

 421000 (R) Anticipated Reimbursement

459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to

Apportionment

 461000 (R) Allotments – Realized 

Resources

Proprietary Entry

None.

74,000

74,000

74,000

74,000

A706

A123 
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 11 of 33

11. The revolving fund incurs obligations against order #1 for the purchase of Inventory to fill that order. The order is placed to purchase the inventory from 

a Non Federal agency. The revolving fund receives an invoice, but the invoice cannot be submitted for payment unless the current fund balance is sufficient 

to cover the payment. (i.e., reimbursable) Although the invoice cannot be submitted for payment at this time, it is important to note that Prompt Payment Act 

laws must be abided by. If the invoice is required to be submitted for payment, refer to OMB Circular A-11, section 145.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

None. 

Budgetary Entry

461000 (R) Allotments – Realized Resources

 480100 (R) Undelivered Orders – 

Obligations, Unpaid

Proprietary Entry

None.

53,000

53,000 B306
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 12 of 33

12. The revolving fund receives inventory from order #1. Since there are no restrictions on use, the revolving fund chooses to use remaining budget authority 

provided by general fund appropriation to cover part of the obligation. Spending authority from offsetting collections, which is not recorded as 310100, is 

used to cover the balance of the obligation. The invoice cannot be submitted for payment because the current fund balance of $5,000 is not sufficient to cover 

the payment. (i.e., reimbursable) Although the invoice cannot be submitted for payment at this time, it is important to note that Prompt Payment Act laws 

must be abided by. If the invoice is required to be submitted for payment, refer to OMB Circular A-11, section 145.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

None.

Budgetary Entry

480100 (R) Undelivered Orders – Obligations, 

Unpaid

 490100 (R) Delivered Orders – Obligation, 

Unpaid

Proprietary Entry

152100 Inventory Purchased for Resale

 211000 Accounts Payable

310700 Unexpended Appropriations – Used - 

Accrued

 570000 Expended Appropriations – Used - 

Accrued

Memorandum Entry

880300 Purchases of Inventory and Related 

Property

 880100 Offset for Purchases of Capital 

Assets 

53,000

53,000

5,000

53,000

53,000

53,000

5,000

53,000

B402

B134

G122 
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 13 of 33

13. The revolving fund accepts order #2. A $48,000 order for services from a non-federal entity – advance of $48,000 required and received. Allotment of 

anticipated resources realized. OMB Circular A-11 Section 20.12(a).

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable Budgetary Entry

422200 (R) Unfilled Customer Orders With 

Advance

 421000 (R) Anticipated Reimbursement

459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to

Apportionment

 451000 (R) Apportionments

Proprietary Entry

101000 Fund Balance With Treasury

 231000 Liability for Advances and 

Prepayments

48,000

48,000

48,000

48,000

48,000

48,000

C182

A123

14. To record the allotment of authority.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

Not Applicable

Budgetary Entry

451000 (R) Apportionments

 461000 (R) Allotments – Realized 

Resources

Proprietary Entry

None.

48,000

48,000 A120

15. The revolving fund incurs obligations against order #2 to purchase supplies to be utilized to fulfill the terms of the order agreement. The supplies are 

ordered through a Non-Federal agency. (i.e., reimbursable)

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

Not Applicable

Budgetary Entry

461000 (R) Allotments – Realized Resources

 480100 (R) Undelivered Orders – 

Obligations, Unpaid

Proprietary Entry

None.

48,000

48,000 B306
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 14 of 33

16. The revolving fund receives supplies from order #2. Spending authority from offsetting collections will be used to cover this obligation.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

Not Applicable

Budgetary Entry

480100 (R) Undelivered Orders – Obligations, 

Unpaid

 490100 (R) Delivered Orders – 

Obligations, Unpaid

Proprietary Entry

610000 Operating Expenses/Program Costs

 211000 Accounts Payable

48,000

48,000

48,000

48,000

B402

17. The performing fund agency receives an advance in anticipation of an order for $13,000 from a non-federal source (e.g., without an order). OMB Circular 

A-11 Section 20.10. 

DEPOSIT FUND XX 6500 Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

101000 Fund Balance With Treasury

 240000 Liability for Deposit Funds, 

Clearing Accounts, and Undeposited 

Collections

13,000

13,000

C108

Budgetary Entry

No entry.

Proprietary Entry

18. The revolving fund receives an advance of $20,000 from a federal source in anticipation of an order (e.g., without an order) OMB Circular A-11 Section 

20.11(b).

ORDERING FUND Debit Credit TC CLEARING ACCOUNT XX F3885 Debit Credit TC

Budgetary Entry

461000 Allotments – Realized Resources

 480200 Undelivered Orders – 

Obligations, Prepaid/Advanced

 

Proprietary Entry

141000 Advances and Prepayments 

 101000 Fund Balance With Treasury

20,000

20,000

20,000

20,000

B308

Budgetary Entry

No entry.

Proprietary Entry

101000 Fund Balance With Treasury

 240000 Liability for Non-Fiduciary 

Deposit Funds and Undeposited Collections

20,000

20,000

C108
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 15 of 33

19. The revolving fund delivers equipment as specified in order #1 and submits an invoice for cost of equipment and overhead for $63,600. Overhead costs 

were calculated to be $10,600 and will factor into the ordering fund’s cost of the equipment. Please note that the performing fund purchased inventory for 

resale, completed internal processes to further develop the inventory to complete order #1. After delivery, the ordering fund now recognizes equipment, rather 

than what as previously recognized as inventory purchased for resale. 

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

480100 Undelivered Orders – 

Obligations, Unpaid

 490100 Delivered Orders – 

Obligations, Unpaid

Proprietary Entry

175000 Equipment

 211000 Accounts Payable 

310700 Unexpended Appropriations – 

Used - Accrued

 570000 Expended Appropriations – 

Used - Accrued

Memorandum Entry

880200 Purchases of Capitalized Assets 

 880100 Offset for Purchases of 

Capital Assets

63,600

63,600

63,600

63,600

63,600

63,600

63,600

63,600

B402

B134

G120

Budgetary Entry

425100 (R) Reimbursements Earned – 

Receivable

 422100 (R) Unfilled Customer Orders w/o 

Advance

Proprietary Entry

131000 Accounts Receivable 

 510000 Revenue From Goods Sold 

650000 Cost of Goods Sold 

 152100 Inventory Purchased for Resale

151600 Operating Material and Supplies in 

Development

 660000 Applied Overhead

650000 Cost of Goods Sold

 151600 Operating Material and Supplies 

in Development

63,600

63,600

53,000

10,600

10,600

63,600

63,600

53,000

10,600

10,600

A714

E408

D514

C646
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 16 of 33

20. The revolving fund receives payment for order #1

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

490100 Delivered Orders – Obligations, 

Unpaid

 490200 Delivered Orders – 

Obligations, Paid

Proprietary Entry

211000 Accounts Payable

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations - 

Used - Disbursed

570000 Expended Appropriations – Used 

- Accrued

 310700 Unexpended Appropriations 

– Used - Accrued

 570010 Expended Appropriations - 

Disbursed

63,600

63,600

63,600

63,600

63,600

63,600

63,600

63,600

B110

B235

B Budgetary Entry

425200 (R) Reimbursements Earned - 

Collected From Federal/Non-Federal 

Exception Sources

 425100 (R) Reimbursement Earned –

Receivable

Proprietary Entry

101000 Fund Balance With Treasury

 131000 Accounts Receivable

63,600

63,600

63,600

63,600

C186
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 17 of 33

21. The revolving fund pays invoice received in transaction #12. Please note that the time span between transaction #12 and transaction #21 is likely to be 

several days and not months due to the need to abide by the Prompt Payment Act. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

490100 (R) Delivered Orders – Obligations, 

Unpaid

 490200 (R) Delivered Orders – Obligations, 

Paid

Proprietary Entry

211000 Accounts Payable

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations – Used - 

Disbursed 

570000Expended Appropriations – Used 

Accrued

 310700 Unexpended Appropriations – 

Used - Accrued

 570010 Expended Appropriations - 

Disbursed 

53,000

53,000

5,000

5,000

53,000

53,000

5,000

5,000

B110

B235
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 18 of 33

22. The revolving fund incurs and pays for general operating expenses. (Note: In practice, a cost accounting system would apply these expenses to customer 

billings through a charge for overhead)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

461000 (D) Allotments – Realized 

Resources

 490200 (D) Delivered Orders – 

Obligations, Paid

Proprietary Entry

610000 Operating Expenses/Program 

Costs

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations – 

Used - Disbursed

 570010 Expended Appropriations - 

Disbursed 

5,000

5,000

5,000

5,000

5,000

5,000

B102

B234

23. The revolving fund provides services as stipulated to non-federal ordering entity for order #2 and applies advance of $48,000. (Includes charge for 

general and administrative expenses.)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable Budgetary Entry

425400 (R) Reimbursements Earned - 

Collected From Non-Federal Sources

 422200 (R) Unfilled Customer Orders with 

Advance

Proprietary Entry

231000 Advances from Others 

 520000 Revenue From Services Provided

48,000

48,000

48,000

48,000

A7101 
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 19 of 33

24. The revolving fund identifies the $13,000 advance from a non-federal source from transaction #17 and establishes order #3.

DEPOSIT FUND XX 6500 Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

240000 Liability for Non-Fiduciary 

Deposit Funds and Undeposited 

Collections

 101000 Fund Balance With Treasury

13,000

13,000 D506

Budgetary Entry

422200 (R) Unfilled Customer Orders with 

Advance 

 421000 (R) Anticipated Reimbursement

459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to

Apportionment

 461000 (R) Allotments – Realized 

Resources

Proprietary Entry

101000 Fund Balance With Treasury

 231000 Advances from Others.

13,000

13,000

13,000

13,000

13,000

13,000

C182

A123

25. The revolving fund identifies the $20,000 advance from a federal source from transaction #18 and establishes order #4. The ordering account is a no-year 

TAFS. Cash advance is reclassified from clearing account to TAFS. Refer to OMB Circular A-11, section 20.10.

CLEARING ACCOUNT XX F3885 Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

240000 Liability for Deposit Funds, 

Clearing Accounts, and Undeposited 

Collections

 101000 Fund Balance With Treasury

20,000

20,000 D506

Budgetary Entry

422200 (R) Unfilled Customer Orders with 

Advance

 421000 (R) Anticipated Reimbursement

459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to

Apportionment

 461000 (R) Allotments – Realized 

Resources

Proprietary Entry

101000 Fund Balance With Treasury

 231000 Advances from Others.

20,000

20,000

20,000

20,000

20,000

20,000

C182

A122
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 20 of 33

26. The revolving fund records depreciation on equipment. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

No entry.

Proprietary Entry

671000 Depreciation, amortization and 

depletion

 175900 Accumulated Depreciation 

Equipment

17,500

17,500

E120

27. The revolving fund has legal authority to receive amounts canceling from expiring TAFSs. Revolving fund use of funds is unrestricted. The agency 

requests a non-expenditure balance transfer using an SF-1151 that is approved and processed by Treasury. The source of the transfer is derived from 

unexpended appropriations.

AGENCY NO-YEAR GENERAL

FUND TAFS

Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

465000 Allotments-Expired Authority

 419100 Balance Transferred – 

Extension of Availability Other Than 

Reappropriations

Proprietary Entry

310300 Unexpended AppropriationsTransfer Out

101000 Fund Balance With Treasury

30,000

30,000

30,000

30,000

A464 

Budgetary Entry

419100 (D) Balance Transferred – Extension 

of Availability Other Than Reappropriations

445000 (D) Unapportioned – Unexpired 

Authority

Proprietary Entry

101000 Fund Balance With Treasury

 310200 Unexpended Appropriations -

Transfer In

30,000

30,000

30,000

30,000

A460 

28. Agency submits apportionment and OMB approves ($30,000 from Expiring TAFS).

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

445000 (D) Unapportioned – Unexpired 

Authority

 451000 (D) Apportionments

Proprietary Entry

None.

30,000

30,000

A116
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 21 of 33

29. The agency head allots the available apportionment and approves automatic allotment of authority. (i.e., direct)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

451000 (D) Apportionments

 461000 (D) Allotments – Realized 

Resources

Proprietary Entry

None.

30,000

30,000

A120

30. The revolving fund incurs and pays for general operating expenses. Unrestricted appropriated funds used to cover obligation. (Note: In practice, a cost 

accounting system would apply these expenses to customer billings through a charge for overhead, which would make it reimbursable. For the purposes of 

this example the direct appropriation is used.)

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Not Applicable. Budgetary Entry

461000 (D) Allotments – Realized Resources

 490200 (D) Delivered Orders – Obligations, 

Paid

Proprietary Entry

610000 Operating Expenses/Program Costs

 101000 Fund Balance With Treasury

310710 Unexpended Appropriations – Used - 

Disbursed 

 570010 Expended Appropriations - 

Disbursed

20,000

20,000

20,000

20,000

20,000

20,000

B107

B234
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 22 of 33

PRE-CLOSING ADJUSTING ENTRIES

31. The revolving fund reviews outstanding orders at year-end. Order #1 from an expiring federal annual TAFS has not been fully obligated by the revolving 

fund. The revolving fund must write orders down to obligations against that order in accordance with OMB Circular A-11, section 20. The ordering fund 

must also write down the order.

ORDERING FUND Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

480100 Undelivered Orders – 

Obligations, Unpaid

 461000 Allotments – Realized 

Resources

Proprietary Entry

No entry.

10,400

10,400 B404

Budgetary Entry

461000 (R) Allotments – Realized Resources

 422100 (R) Unfilled Customer Orders 

Without Advance

Proprietary Entry

No entry.

10,400

10,400

F109

32. The revolving fund adjusts anticipated orders not realized and apportionments unavailable to zero. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

459000 (R) Apportionments – Anticipated 

Resources – Programs Subject to 

Apportionment

 421000 (R) Anticipated Reimbursement

Proprietary Entry

No entry.

15,000

15,000 F112

Revolving Fund

Pre-Closing Trial Balance

Year 1

Account Account Description Debit Credit

Budgetary

411900D Other Appropriations Realized 100,000 -

419100D Balance Transferred – Extension of Availability Other 

Than Reappropriations

30,000 -
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 23 of 33

422200R Unfilled Customer Orders with Advance 33,000 -

425200R Reimbursements Earned – Collected From Federal/NonFederal Exception Sources63,600 -

425400R Reimbursements Earned – Collected from Non-Federal 

Sources

48,000 -

461000D Allotments – Realized Resources 10,000

461000R Allotments – Realized Resources - 43,600

490100R Delivered Orders – Obligations, Unpaid 48,000

490200D Delivered Orders – Obligations Paid - 120,000

490200R Delivered Orders – Obligations Paid 53,000

Total 274,600 274,600

Proprietary

101000 Fund Balance With Treasury 101,600 -

175000 Equipment 70,000 -

175900 Accumulated Depreciation – Equipment - 17,500

211000 Accounts Payable 48,000

231000 Advances from Others - 33,000

310100 Unexpended Appropriations – Appropriations Received - 100,000

310200 Unexpended Appropriations – Transfers In - 30,000

310710 Unexpended Appropriations – Used - Disbursed 125,000 -

510000 Revenue from Goods Sold - 63,600

520000 Revenue from Services Provided - 48,000

570010 Expended Appropriations - Disbursed - 125,000

610000 Operating Expenses/Program Costs 98,000 -

650000 Costs of Goods Sold 63,600 -

660000 Applied Overhead 10,600

671000 Depreciation, Amortization, and Depletion 17,500 -

Total 475,700 475,700

Memorandum

880100 Offset for Purchases of Capital Assets - 123,000
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 24 of 33

880200 Purchase of Capitalized Assets 70,000 -

880300 Purchases of Inventory and Related Property 53,000

Total 123,000 123,000

Financial Statements Year 1:

BALANCE SHEET

Line No.

Assets (Note 2)

Intra-governmental

1. Fund Balance with Treasury (Note 3) (101000E) 101,600

7. Total Intra-governmental 101,600

With the public

12. General property, plant, and equipment, net (Note 10) (175000E, 175900E) 52,500

18. Total other than intra-governmental/with the public 52,500

19. Total assets 154,100

25. Advances from others and deferred revenue 20,000

27. Total Intra-governmental 20,000

28. Accounts Payable 48,000

36. Advances from others and deferred revenue 13,000

38. Total other than intra-governmental 61,000

39. Total liabilities 81,000

Net position:

41.2 Unexpended appropriations – Funds From Other Than Dedicated Collections (310100E, 310200, 310700E, 

310710E)

5,000

42.2

Cumulative results of operations – Funds from Other Than Dedicated Collections (510000, 520000E, 570000E, 

570010E, 610000E, 650000E, 671000, 880100E, 880200E) 68,100

43 Total net position (Calculated sum lines 41 and 42) 73,100

44. Total liabilities and net position (Calculated sum Lines 39 and 43) 154,100
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 25 of 33

STATEMENT OF NET COST

Line No.

Gross Program Costs (Note 22):

Program A:

1. Gross costs (610000E, 650000E, 671000E) 168,500

2. Less: earned revenue 111,600

3. Net program costs

5. Net program costs including Assumption Changes: 56,900

8. Net cost of operations 56,900

STATEMENT OF CHANGES IN NET POSITION 

Line No.

Unexpended Appropriations:

4. Appropriations Received (310100E) 100,000

5. Appropriations transferred in/out – Transfers-In (310200E) 30,000

7. Appropriations used (310700, 310710E) (125,000)

8. Net Change in Unexpended Appropriations 5,000

9. Total Unexpended Appropriations - Ending 5,000

Budgetary Financing Sources:

14. Appropriations used (570000 and 570010E) 125,000

21. Net Cost of Operations (+/-) 56,900

22. Net Change 68,100

23. Cumulative Results of Operations 68,100

24. Net Position 73,100
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 26 of 33

STATEMENT OF BUDGETARY RESOURCES

Line 

No.

Budgetary resources:

1071 Unobligated balance from prior year budget authority, net (discretionary and mandatory) (Note 26) (419100E) 30,000

1290 Appropriations (discretionary and mandatory) (411900E) 100,000

1890 Spending authority from offsetting collections (discretionary and mandatory) (422200E, 425200E, 425400E) 144,600

1910 Total budgetary resources 274,600

Status of Budgetary Resources:

2190 New obligations and upward adjustments (total) (490100E, 490200E) 221,000

Unobligated balance, end of year:

2204 Apportioned, unexpired account (461000E) 53,600

2412 Unexpired unobligated balance, end of year 53,600

2490 Unobligated balance, end of year (total) 53,600

2500 Total budgetary resources 274,600

Outlays, Net and Disbursements, Net:

4190 Outlays, net (total) (discretionary and mandatory) (422200E, 425200E, 425400E, 490200E) 28,400
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 27 of 33

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE 

Line 

No.

SF 133 Schedule 

P

BUDGETARY RESOURCES

All accounts:

0900 Total new obligations, unexpired accounts (490100, 490200E) - 221,000

1012 Unobligated balance transfers between expired and unexpired accounts (+ or -) (419100E) 30,000 30,000

1070 Unobligated balance (total) 30,000 30,000

Budget authority:

Appropriations:

Discretionary:

1100 Appropriation (411900E) 100,000 100,000

1160 Appropriation, discretionary (total) 100,000 100,000

1700 Collected (422200E, 425200E, 425400E) 144,600 144,600

1750 Spending authority from offsetting collections, discretionary (total) 144,600 144,600

1900 Budget authority (total) 244,600 244,600

1910 Total budgetary resources 274,600 -

1930 Total budgetary resources available - 274,600

Memorandum (non-add) entries:

All accounts:

1941 Unexpired unobligated balance, end of year (461000E) - 53,600

STATUS OF BUDGETARY RESOURCES

New obligations and upward adjustments:

Direct:

2002 Category B (by project) (490200E) 120,000

2004 Direct obligations (total) 120,000

Reimbursable:

2102 Category B (by project) (490100E, 490200E) 101,000 -

2104 Reimbursable obligations (total) 101,000 -

2170 New obligations, unexpired accounts (490100E, 490200E) 221,000 -

2190 New obligations and upward adjustments (total) 221,000 -

Apportioned, unexpired accounts:

2201 Available in the current period (461000E) 53,600 -

2412 Unexpired unobligated balance: end of year 53,600 -
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 28 of 33

2490 Unobligated balance, end of year (total) 53,600 -

2500 Total budgetary resources 274,600 -

SF 133 AND SCHEDULE P: REPORT ON BUDGET EXECUTION AND BUDGETARY RESOURCES AND BUDGET 

PROGRAM AND FINANCING SCHEDULE

Line 

No.

SF 133 Schedule 

P

Memorandum (non-add) entries:

2501 Subject to apportionment unobligated balance, end of year (461000) 53,600

CHANGE IN OBLIGATED BALANCE

Unpaid obligations:

3010 New obligations, unexpired accounts (490100E, 490200E) 221,000 221,000

3020 Outlays (gross) (-) (490200E) (173,000) (173,000)

Memorandum (non-add) entries:

3050 Unpaid obligations, end of year (490100E) 48,000 48,000

3200 Obligated balance, end of year (+ or -) 48,000- 48,000-

BUDGET AUTHORITY AND OUTLAYS, NET

Discretionary:

Gross budget authority and outlays:

4000 Budget authority, gross 244,600 244,600

Outlays, gross

4010 Outlays from new discretionary authority (490200E) 173,000 173,000

4020 Outlays, gross (total) 173,000 173,000

4030 Federal sources (-) (422200E, 425200E) (83,600) (83,600)

4033 Non-Federal sources (-) (422200E, 425400E) (61,000) (61,000)

4040 Offsets against gross budget authority and outlays (total) (-) (144,600) (144,600)

4070 Budget authority net (discretionary) 100,000 100,000

4080 Outlays, net (discretionary) 28,400 28,400

Budget authority and outlays, net (total)

4180 Budget authority, net (total) 100,000 100,000

4190 Outlays, net (total) 28,400 28,400

Unexpended balances: 

5321 Direct unobligated balance, end of year (461000E) 10,000 10,000
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 29 of 33

5322 Reimbursable unobligated balance, end of year (461000E) 43,600 43,600

5323 Discretionary unobligated balance, end of year (461000E) 53,600 53,600

5342 Reimbursable obligated balance, end of year (490100E) 48,000 48,000

5343 Discretionary obligated balance, end of year (490100E) 48,000 48,000

Revolving Fund Reclassified Financial Statements – Year 1: 

Note: Effective FY 2021, the Reclassified Balance Sheet is the same as the Balance Sheet. Therefore, the Reclassified Balance

Sheet is not presented in this scenario. 

RECLASSIFIED STATEMENT OF NET COST

Line No.

Gross Program Costs (Note 22):

2. Non-federal gross cost (610000E, 671000E) 65,500

6. Total non-federal gross cost 65,500

Program A:

7. Federal gross cost

7.3 Buy/sell cost (RC24)-Footnote 2 (610000E, 650000E) 103,000

7.4 Purchase of assets (RC 24) – Footnote 2 (880200E, 880300E) 123,000

8. Total federal gross cost 226,000

9. Department total gross cut 291,500

12. Federal earned revenue

12.2 Buy/sell revenue (exchange) (RC 24) – Footnote 2 (510000E, 520000E) 111,600

12.3 Purchase of assets offset (880100E) 123,000

13. Total federal earned revenue 234,600

14. Department total earned revenue 234,600

15. Net cost of operation 56,900
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 30 of 33

RECLASSIFIED STATEMENT OF CHANGES IN NET POSITION 

Line No.

7. Financing sources:

7.1 Appropriations received in adjusted (rescissions and other adjustments) (RC 41) (310100E) 100,000

7.2 Appropriations used (RC 39) (310700E, 310710E) 125,000

7.3 Appropriations expended (RC 38) (570000E, 570010E) 125,000

7.6 Non-expenditure transfers-in of unexpended appropriations and financing sources (RC 08) – Footnote 1 (310200E) 30,000

7.30 Total financing sources 130,000

8.00 Net cost of operations (+/-) 56,900

9 Net position, end of period 73,100

 

Closing Entries

32. To record, in the revolving fund, the consolidation of actual net-funded resources. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

420100 (D)Total Actual Resources - Collected

411900 (D) Other Appropriations Realized

419100 (D) Balance Transferred – 

Extension of Availability Other Than 

Reappropriations

420100 (R) Total Actual Resources - Collected

425200 (R) Reimbursements Earned - 

Collected From Federal/Non-Federal 

Exception Sources

 425400 (R) Reimbursements Earned – 

Collected From Non-Federal Sources

Proprietary Entry

No entry.

130,000

111,600

100,000

30,000

63,600

48,000

F302
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 31 of 33

33. To record the closing of unobligated authority for unexpired no-year revolving fund. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

461000 (R)Allotments – Realized Resources

445000 (R) Unapportioned Authority

461000 (D) Allotments – Realized Resources

445000 (D) Unapportioned Authority

Proprietary Entry

No entry.

43,600

10,000

43,600

10,000 F308

34. To record, in the revolving fund, the closing of Expended Authority-Paid. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

490200 (D) Delivered Orders – Obligations, 

Paid

 420100 (D) Total Actual Resources – 

Collected

490200 (R) Delivered Orders – Obligations, 

Paid

 420100 (R) Total Actual Resources – 

Collected

Proprietary Entry

No entry.

120,000

53,000

120,000

53,000

F314
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 32 of 33

35. To record, in the revolving fund, the closing of revenue and expense to cumulative results of operations. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

No entry.

Proprietary Entry

510000 Revenue from Goods Sold

520000 Revenue from Services Provided

570010 Expended Appropriations - Disbursed

 331000 Cumulative Results of 

Operations

331000 Cumulative Results of Operations

 610000 Operating Expenses

650000 Cost of Goods Sold

 660000 Applied Overhead

671000 Depreciation, Amortization & 

Depletion

63,600

48,000

125,000

168,500

10,600

236,600

98,000

63,600

17,500

F336

36. To record, in the revolving fund, the closing of fiscal year activity to unexpended appropriations. 

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

No entry.

Proprietary Entry

310100 Unexpended Appropriations – 

Appropriations Received

310200 Unexpended Appropriations – 

Transfers-In

 310710 Unexpended Appropriations – 

Used – Disbursed

 310000 Unexpended Appropriations - 

Cumulative

100,000

30,000

125,000

5,000

F342
REVOLVING FUND

EFFECTIVE FISCAL 2023 

Page 33 of 33

37. To record, in the revolving fund, the closing of memorandum capitalized asset flow accounts.

NOT APPLICABLE Debit Credit TC REVOLVING/PERFORMING FUND Debit Credit TC

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Budgetary Entry

No entry.

Proprietary Entry

No entry.

Memorandum Entry

880100 Offset for Purchases of Capital Assets

 880200 Purchases of Capitalized Assets

 880300 Purchases of Inventory and Related 

Property

123,000

70,000

 53,000

F370

Revolving Fund

Post-Closing Trial Balance

Account Account Description Debit Credit

Budgetary

420100 Total Actual Resources - Collected 68,600 -

422200 Unfilled Customer Orders with Advance 33,000 -

445000 Unapportioned Authority 53,600

490100 Delivered Orders – Obligations, Unpaid 48,000

Total 101,600 101,600

Proprietary

101000 Fund Balance With Treasury 101,600 -

175000 Equipment 70,000 -

175900 Accumulated Depreciation on Equipment - 17,500

211000 Accounts Payable - 48,000

231000 Advances from Orders - 33,000

310000 Unexpended Appropriations - Cumulative - 5,000

331000 Cumulative Results of Operations - 68,100

Total 171,600 171,600